Provision for contingent liability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 June 2014
Dear Sir,
How we show the contingent liability or provision for contingent liability while preparing the schedule VI.
Please advise me.
How we show the contingent liability or provision for contingent liability while preparing the schedule VI.
Please advise me.
Nikhil Kaushik
(Expert)
13 June 2014
provisions are provided under "Current Liabilities"
contingent liabilities are shown as a not below the financial statements.
contingent liabilities are shown as a not below the financial statements.
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